Zoetis (NYSE:ZTS) announced a quarterly dividend on Wednesday, February 14th, Wall Street Journal reports. Stockholders of record on Friday, April 20th will be given a dividend of 0.126 per share on Friday, June 1st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Thursday, April 19th.
Zoetis has increased its dividend payment by an average of 13.4% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Zoetis has a payout ratio of 21.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Zoetis to earn $3.43 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 14.6%.
Zoetis stock opened at $85.67 on Wednesday. The company has a quick ratio of 2.55, a current ratio of 3.85 and a debt-to-equity ratio of 2.77. The stock has a market cap of $40,552.65, a PE ratio of 35.70, a PEG ratio of 1.87 and a beta of 0.96. Zoetis has a 1-year low of $53.05 and a 1-year high of $85.94.
ZTS has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Zoetis from a “hold” rating to a “sell” rating and set a $83.00 target price for the company. in a report on Saturday, January 13th. Bank of America increased their target price on shares of Zoetis from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Morgan Stanley lowered shares of Zoetis from an “overweight” rating to an “equal weight” rating and set a $70.00 target price for the company. in a report on Monday, March 19th. They noted that the move was a valuation call. Craig Hallum reiterated a “buy” rating and set a $85.00 target price (up from $77.00) on shares of Zoetis in a report on Tuesday, January 2nd. Finally, Cantor Fitzgerald set a $85.00 target price on shares of Zoetis and gave the stock a “buy” rating in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $80.89.
In other Zoetis news, insider Roman Trawicki sold 8,568 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $83.10, for a total transaction of $712,000.80. Following the completion of the transaction, the insider now owns 11,457 shares of the company’s stock, valued at $952,076.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heidi C. Chen sold 7,383 shares of the firm’s stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $84.71, for a total transaction of $625,413.93. Following the transaction, the insider now directly owns 20,162 shares of the company’s stock, valued at approximately $1,707,923.02. The disclosure for this sale can be found here. Over the last three months, insiders sold 112,952 shares of company stock valued at $9,219,843. 0.35% of the stock is owned by insiders.
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Zoetis Company Profile
Zoetis Inc discovers, develops, manufactures, and markets veterinary vaccines and medicines in the United States and internationally. It commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep; and companion animals comprising dogs, cats, and horses.
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